Asking Price Contact for pricing
Sq. Footage 13,132
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1950
Lot Size 255 HECTARES

Property Description

JLL and Knight Frank as exclusive sales agents, are pleased to present 208 Clarence Street, Sydney. 208 Clarence Street comprises of a refurbished boutique 7 storey commercial office building located within the Town Hall precinct of the Sydney Central Business District. The property is fully leased to two major tenants and in addition to the strong existing cashflow, the property provides future optionality via an approved Development Application for the construction of a new 15 storey Hotel.


Key investment highlights include:

  • 100% Freehold interest in a 7 storey commercial building comprising 1,378 sqm* NLA in Australia’s most sought after office market – Sydney CBD
  • Centrally located in the Western Corridor, a major growth corridor in Sydney CBD 
  • Fully leased with a net passing income of $1,001,092 per annum*
  • WALE of 3.99 years (by income) as 1 October 2019
  • Alternative future uses available via DA approval for construction of a new 15 storey Hotel comprising 97 rooms, with Demolition Clauses in all Leases
  • 150 metre* walk to Town Hall Station, George Street Light Rail and the Queen Victoria Building
  • NABERS exempt



The property is being offered for sale by Expressions of Interest closing Tuesday 13th August 2019 at 4:00pm (AEST).

Investment Highlights

  • 100% Freehold interest in a 7 storey commercial building in Australia’s most sought after office market – Sydney CBD


Mitch Noonan
Director
James Aroney
James Aroney
National Director, Sales & Investments - NSW

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